Mercedes 2004 Annual Report Download - page 139

Proceeds from disposals of long-term and short-term available-
for-sale securities were €3,702 million (2003: €2,743 million;
2002: €5,254 million). Gross realized gains from sales of these
securities were €254 million (2003: €8 million; 2002: €157 mil-
lion), while gross realized losses were €3 million (2003: €15 mil-
lion; 2002: €23 million). The proceeds and realized gains from
the sale of the stake in HMC are included in these figures (see
Note 4). The proceeds from the sale of the stake in HMC are
shown in the Consolidated Statements of Cash Flows among the
line item “Proceeds from disposals of businesses”, the remaining
proceeds are disclosed in the line item “Proceeds from sales of
securities (other than trading).”
The unrealized gains included in the 2004 statement of income
related to trading securities were €2 million (2003: €10 million;
2002: €6 million). Unrealized losses have not occurred in 2004
(2003: –; 2002: €1 million) for these securities.
DaimlerChrysler uses the weighted average cost method as a
basis for determining cost and calculating realized gains and
losses.
Other securities classified as cash equivalents were approximate-
ly €3.6 billion and €5.3 billion at December 31, 2004 and 2003,
respectively, and consisted primarily of repos, commercial paper
and certificates of deposit.
21. Liquid Assets
Liquid assets recorded under various balance sheet captions are
as follows:
22. Prepaid Expenses
Prepaid expenses are comprised of the following:
As of December 31, 2004, €435 million of the total prepaid
expenses mature after more than one year (2003: €434 million).
23. Stockholders’ Equity
Number of Shares Issued and Outstanding as well as
Treasury Stock. DaimlerChrysler had issued and outstanding
1,012,824,191 registered Ordinary Shares of no par value at
December 31, 2004 and 2003. Each share represents a nominal
value of €2.60 of capital stock.
In 2004, DaimlerChrysler purchased approximately 0.8 million
(2003: 1.3 million; 2002: 1.1 million) Ordinary Shares in connec-
tion with an employee share purchase plan, of which 0.8 million
(2003: 1.3 million; 2002: 1.1 million) were re-issued to employ-
ees.
Authorized and Conditional Capital. On April 7, 2004, the
annual meeting authorized the Board of Management through
October 7, 2005, to acquire treasury stock for certain defined
purposes up to a pro rata amount of the share capital attribut-
able to each share of €263 million of capital stock, representing
nearly 10% of issued and outstanding capital stock.
On April 9, 2003, the annual meeting authorized the Board of
Management through April 8, 2008, upon approval of the Super-
visory Board, to increase capital stock by issuing new, no par val-
ue registered shares in exchange for cash contributions totaling
€500 million as well as by issuing new, no par value registered
shares in exchange for non-cash contributions totaling €500 mil-
lion and to increase capital stock by issuing Ordinary Shares to
employees totaling €26 million.
DaimlerChrysler is authorized to issue convertible bonds and
notes with warrants in a nominal volume of up to €15 billion prior
to April 18, 2005. The convertible bonds and notes with warrants
shall grant to the holders or creditors option or conversion rights
for new shares in DaimlerChrysler in a nominal amount not to
exceed €300 million of capital stock. DaimlerChrysler is also enti-
tled to grant rights for issuing up to 96 million new shares (repre-
senting up to a pro rata amount of the share capital attributable
to each share of approximately €250 million of capital stock) with
respect to the DaimlerChrysler Stock Option Plan by April 18,
2005.
135
(in millions of €)
At December 31,
2003 2002
7,381
390
7,771
3,884
–
11,655
2004
1 Cash and cash equivalents are mainly comprised of cash at banks, cash on hand and checks in
transit.
10,767
250
11 , 017
3,268
–
14,285
9,100
30
9,130
3,293
5
12,428
Cash and cash equivalents 1
originally maturing within 3 months
originally maturing after 3 months
Total cash and cash equivalents
Securities
Other
246
784
1,030
260
835
1,095
(in millions of €)
At December 31,
2004 2003
Prepaid pension cost
Other prepaid expenses